Why Faraday Future Stock Raced Nearly 8% Higher on Tuesday
Faraday Future Intelligent Electric (NASDAQ: FFIE), a very up-and-down stock even by the volatile standards of the electric vehicle (EV) industry, had a good session on the stock market Tuesday. The company's share price experienced a pop of almost 8%, thanks to some good news from the factory. By contrast, investors threw the S 500 index into reverse at a 0.3% clip on the day.
That morning, Faraday Future announced that it has wrapped up all required compliance testing prior to launching delivery of its FF 91 2.0 Futurist Alliance. This is its first product, a sleek luxury EV with a dizzyingly high base sticker price of $309,000.
The company said it would begin the actual delivery of the vehicles to customers who preordered them in the very near future, specifically the second week of this month. It did not get more specific, but did say it would hold a small "delivery ceremony" to commemorate this.
Source Fool.com
